Company Valuation: Danone

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 35,530 30,830 37,646 41,915 49,156 39,486 - -
Change - -13.23% 22.11% 11.34% 17.28% -19.67% - -
Enterprise Value (EV) 1 46,030 40,937 47,867 50,516 57,587 48,263 47,390 46,962
Change - -11.06% 16.93% 5.53% 14% -16.19% -1.81% -0.91%
P/E 18.6x 33.3x 45.1x 20.8x 27.2x 16.3x 14.9x 14x
PBR 2.02x 1.76x 2.33x 2.59x 2.93x 2.22x 2.1x 2x
PEG - -0.7x -3.7x 0x -2.75x 0.5x 1.58x 2.09x
Capitalization / Revenue 1.46x 1.11x 1.36x 1.53x 1.8x 1.4x 1.34x 1.29x
EV / Revenue 1.9x 1.48x 1.73x 1.85x 2.11x 1.71x 1.61x 1.53x
EV / EBITDA 10x 7.81x 9.4x 10.7x 11.5x 9.67x 8.98x 8.48x
EV / EBIT 13.8x 12.1x 13.8x 14.2x 15.7x 12.6x 11.6x 10.9x
EV / FCF 18.9x 19.6x 18.2x 16.8x 20.6x 19.5x 16.7x 15.8x
FCF Yield 5.28% 5.11% 5.5% 5.94% 4.86% 5.12% 6% 6.35%
Dividend per Share 2 1.94 2 2.1 2.15 2.25 2.353 2.495 2.661
Rate of return 3.55% 4.06% 3.58% 3.3% 2.93% 3.83% 4.07% 4.34%
EPS 2 2.94 1.48 1.3 3.13 2.82 3.761 4.115 4.39
Distribution rate 66% 135% 162% 68.7% 79.8% 62.6% 60.6% 60.6%
Net sales 1 24,281 27,661 27,619 27,376 27,283 28,192 29,482 30,602
EBITDA 1 4,602 5,240 5,092 4,726 5,020 4,990 5,277 5,540
EBIT 1 3,337 3,377 3,481 3,558 3,665 3,838 4,093 4,321
Net income 1 1,924 959 881 2,021 1,825 2,356 2,590 2,762
Net Debt 1 10,500 10,107 10,221 8,601 8,431 8,777 7,905 7,476
Reference price 2 54.59 49.23 58.68 65.12 76.78 61.38 61.38 61.38
Nbr of stocks (in thousands) 650,849 626,246 641,543 643,653 640,218 643,298 - -
Announcement Date 23/02/22 22/02/23 22/02/24 26/02/25 20/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.32x1.71x9.67x3.83% 45.33B
20.62x2.81x14.03x4.01% 244B
19.75x2.48x14.81x3.32% 79.18B
16.31x0.57x10.35x2.41% 42.46B
20.38x3.1x12.61x3.43% 33.82B
33.93x2.94x17.13x1.09% 30.34B
-8.72x1.88x9.37x6.49% 29.33B
63.56x9.75x40.44x1.2% 27.62B
12.16x0.39x8.89x2.41% 22.92B
31.69x0.63x16.01x1.2% 20.12B
Average 22.60x 2.63x 15.33x 2.94% 57.55B
Weighted average by Cap. 21.15x 2.65x 14.50x 3.42%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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